The future of IOT technologies in the Philippine Household Industry - a Technology Forecast through Scenario Building / Wilbert Sison

Date : December 1, 2018
Number of Pages : 84 leaves
Adviser : Prof. Glen Imbang

Abstract

Several manufacturing industries are being affected by the sudden emergence of Internet of Things (IoT) capability for their respective products. The impact of adding IoT capability varies in intensity for every industry and in every local market. In the Philippines, IoT capability is already considered a standard feature of smartphones in the Mobile Communications Industry, but is still in the introductory phase in the Household Appliance Industry.

IoT-enabled household appliances are still in its infancy in the Philippine market. Little is known about them and what benefits they bring. And the feature is not marketed as extensively unlike in other more developed countries. Neither is the feature included in the vast majority of products being sold in the Philippine market. How should manufacturers (both local and foreign in origin) in the Household Appliance Industry address this two-fold challenge? How can manufacturers be convinced to adapt and integrate IoT-capability to their existing product lines? And perhaps more importantly, how can manufacturers convince consumers to adopt this new technology?

The aim of this study is to examine and carefully understand the various conditions that can affect the feasibility of technology adaptation by manufacturers and market acceptance by consumers of IoT-enabled Household Appliances in the Philippine setting. The project also seeks to map out appropriate strategies to improve technological adaptation by manufacturers which will lead to successful market penetration and technology adoption by consumers.

The research question is answered through a review of Technology Management, Strategic Planning, Marketing, and Consumer Behaviour concepts. Relevant market data and literature on trends were gathered and an online survey was conducted to determine consumer attitudes. The data is then utilized in a Technology Forecasting Technique known as Scenario Building, which reveals a possible future in which IoT-enabled Household Appliances are able to gain a foothold in the market and steadily grow.

On this basis, it is recommended that manufacturers should continue with their R&D on embedding IoT into household appliances. They should also begin to explore tie ups or partnerships with the other stakeholders such as Telcos and Third Party device manufacturers. Further research could be undertaken to identify possible strategies that can be used to penetrate the lower income segments in the Philippine market.